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Argentine peso drops against dollar despite US backing
Argentine peso drops against dollar despite US backing
by  AFP

Argentines scrambled Friday to buy dollars and household items as the peso depreciated against the greenback, despite multi-billion dollars of US support for the under-pressure currency. With the government of President Javier Milei under pressure, the peso opened at 1,465 to the dollar Friday morning, having closed at 1,430 the day before.

In Argentine farm town, Milei mania fizzles
In Argentine farm town, Milei mania fizzles
by  AFP

For clues as to why Argentina's President Javier Milei faces a potential drubbing in next week's mid-terms, look no further than San Andres de Giles, a farming town set amid wheat fields two hours from Buenos Aires.

US Fed official urges caution but says could back October cut
US Fed official urges caution but says could back October cut
by  AFP

A senior member of the US Federal Reserve on Friday indicated he could back another interest rate cut later this month, while urging a meeting-by-meeting approach going forward. Futures traders currently see a 100 percent chance that the Fed will cut interest rates by a total of at least 50 basis points over its two remaining meetings this year, according to data from CME Group.

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